Value Analysis Of The Symmetry Of The Contracting Information In Insurance Law

Insurance is a product of the development of modern civilization. In China, the various forms of insurance contract disputes, so that consumers and insurance applicant is a very embarrassing question. The insured, most of them being insurance consumers, encounter many illegal trading means such as fraudulent information, misrepresentation, bad faith complaint about the insured's disclosure duty, all of which is regard to dealing course is the most effective answer. These issues are actually related to the information related to insurance transactions. The essence of insurance contract is exchange of risk information. The inequality between insurer and the insured in possession of risk information lead to reverse option and moral risks and therefore needs law to give incentives for real information reveal. Information Economics regards information as the prevailing socio-economic phenomenon. It researches information, information activities in the information economy and the problems of economic activities. Asymmetric information would undermine the fair,with all sorts of defects. Insurance is unique to the field of information asymmetry and the risk of asymmetric information led to a product at the conclusion of a contract of insurance contracts both parties should strive to make the information available to symmetry.The dissertation consists of three parts except introduction.The first part introduces the symmetric information theory and the asymmetric information theory. Both of them are predicated on the concept. Asymmetric information is a universal economic activity. It exists not only in physical commodity market but also in service market. Insurance market is essentially a service market, in which there is a lot of asymmetric information. Because of these asymmetry, it easily leads to a series of drawbacks. For example, there will be a phenomenon which called "thin" in the insurance market. It will promote the phenomenon of defective expulsion Quality Product. Asymmetric information also makes that the insurance will not meet the needs of prejudice to the insurance market, prejudice to the effective allocation of resources in the insurance market. It also can increase transaction costs, reduce operating profit in the insurance industry. We need to achieve the symmetry.The second part introduces how to realize the symmetry of the contracting information in the embodiment of the insurance contract. The symmetry of the contracting information reflected in the insurance contract between the two. This is the one to pay attention to the insurer's accounting duty and other the insured's disclosure duty. Representation is an important obligation in Law of Insurance, which has a character of pre-contract obligation. Being the protections of the trust benefits of two parties, the previously concluded contract obligation is theoretically based on the bona-fide principle. It applies in contract invalid, contract rescinded rescinded, changed and terminated, the period before it goes into effect and becomes effective. Its legislative foundation should be analyzed from technology and system aspects. The obligor includes not only insurance applicant, but also the insured. In china, representation adopts ask answer doctrine and both writing and oral forms are permitted. The deadline for performance of representation should be from the time when an insurance applicant puts forward an insurance claim to the time when the contract of insurance is established. If an obligor violates the obligation of representation, the law of insurance entitles the insurer the right of terminating the contract of insurance. Since insurance law of our country was executed, there appeared lots of disputes about duty of disclosure, its defects in judicatory grew more and more with social development, which made people notice that there were many defects and lacks in present law of insurance. The insurer's explanation duty is a kind of legal obligation on nature, which is one kind of additional obligation and ahead of the contract too. The insurer is not only limited to the oral or written form of the explanation of the contract terms of the insurance, but overall and extensive. The insurer violates the duty of proving, the insured has the right to cancel the contract, to and can require the return of the insurance premium doubly if the insurer do so on purpose and can demand the return insurance premium and interest if it is the insurer's fault. The execution of clause 17and 18 of Chinese Insurance Law is not satisfactory. The reason for this lies that the insurers don't give any explanations or just deliver a formal one. At present the most important is to promote the substantialization of insurance explanation: On one hand promote the popularization of insurance clauses, hence improve the readability of insurance clauses. On the other hand promote the substantialization of insurance exemption clause.The last part researches how to achieve the symmetry of the contracting information in the Insurance Act. We must do the following to meet the shortfall which caused by the lack of insurance functions in the asymmetry of the contracting information. First,insured efforts to gain knowledge and perform the insured's disclosure. Second, it requires insurers to adopt a variety of measures to enable insurers to obtain more insurance information. It also needs an information disclosure system. It should work to strengthen nuclear security inspection and inhibition of reverse insurance options. It adopt a risk-sharing system to prevent the "moral hazard". Third, it require insurance supervision departments from both insurance and financial provisions to strengthen the supervision and management of insurance. It sounds corresponding information platform, and regularly discloses to the community. Fourth,the education departments and other relevant departments should universal social insurance knowledge in the whole society to increase the general public's knowledge of insurance and insurance awareness. Insurance intermediary organizations will be accurate and timely disclosure of all types of insurance information to the community. Last, this article briefly introduced the judicial relief measures.